New rental high achieved in Oxford City Centre

25/07/2017

A new high has been achieved for office rents in Oxford City Centre.

Ground floor accommodation at King Charles House, Park End Street, owned by Green Templeton College, has been leased at £30 per sq ft in a deal arranged by leading commercial property specialists VSL & Partners.

It is the latest example of prime office accommodation reaching new peaks this year with another development in St Aldates also seeing significant rises. A systematic refurbishment has taken place and the building has now achieved rents between £27.50 per sq ft and £29 per sq ft on four separate lettings.

Tom Barton, director at VSL & Partners, said: “Record office rents in Oxford City Centre are being achieved thanks to historic low levels of supply and continued demand.

“£30 per sq ft will now be the new benchmark for rents in the City Centre.”

The building at 58 – 60 St Aldates was bought by Vantage Property Limited Partnership at the beginning of this year when rents were at £23.50 per sq ft.